PETROHAWK BIDBHP gets go-aheadBHP Billiton has received approval from the US competition regulator for its $US15.1 billion ($14 billion) bid for shale gas company Petrohawk Energy. The world's biggest miner formally lodged the offer with the US Securities and Exchange Commission.COALWhitehaven aheadWhitehaven Coal has bounced back from extreme weather difficulties, boosting output by 47 per cent to 1.47 million tonnes in the June quarter. Total sales jumped 82 per cent after deferrals due to Japan's earthquake.MANUFACTURINGAmcor glass saleAmcor has completed the sale of its glass tubing business to Nipro Corp for $US161 million ($149 million). It will report the profit on the sale of about $US90 million as a significant item.MININGDowner contractEngineering firm Downer EDI has won a contract worth more than $400 million on Xstrata Coal's Ravensworth North coal project in the Hunter Valley.PROPERTYLend Lease projectLend Lease has gained approval from the US Department of the Army for the modification and development of a residential project in Hawaii worth $157 million. The company will now build larger homes than planned.FINANCEUBS to cut jobsThe Swiss bank UBS has announced fresh job cuts after posting sharply lower second-quarter profits of 1.02 billion Swiss francs ($1.16 billion), down almost 50 per cent. Swiss reports suggest there will be 5000 job losses at the bank.ENERGYBP back in blackBritish energy giant BP rebounded into profit in the second quarter, after a huge loss last year due to the US Gulf of Mexico oil spill. BP reported profits of $US5.6 billion ($5.2 billion) in the three months to end-June.ECONOMYIndia lifts ratesIndia's central bank has raised interest rates by 50 basis points, its 11th increase since March last year, to combat soaring inflation. The Reserve Bank of India raised its lending rate to commercial banks to 8 per cent.